Nokia receives Rs. 2000 crore tax notice in India

In the on-going fight with the Indian Income Tax department for alleged evasion of taxes, Nokia have now received a notice of Rs. 2000 crore INR (approx €300 Million) from the I-T department.

I-T department on 21st March asked Nokia to submit the amount within a week time before Nokia filed a petition for challenging this order in Delhi High Court, which has granted an interim stay on the matter. I-T department will soon be submitting its reply in Delhi high court.

Nokia said that its in full compliance with the local laws.

“Nokia confirms it has received an order from Indian tax officials. Nokia reiterates its position that it is in full compliance with local laws as well as the bilaterally negotiated tax treaty between the governments of India and Finland, and will defend itself vigorously.

In this regard, Nokia filed a writ before the Delhi High Court last week and on Friday, March 22 the Court has issued notice to the Income Tax department to file its counter affidavit and has granted interim stay of the entire tax demand raised against Nokia till further orders.”

Read more here.

Source/Via

Advertisements

Comment on this

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

Up ↑

%d bloggers like this: